2-6 Castlereagh Place
Belfast, BT5 5GT
offers over
£2,750,000
- Status For Sale
-
Stamp Duty
Higher amount applies when purchasing as buy to let or as an additional property£243,750 / £381,250*
Key Features & Description
Description
REVERSIONARY FULLY LET RESIDENTIAL BLOCK COMPRISING 20 APARTMENTS PRODUCING A GROSS RENTAL INCOME OF £216,060 PA WITH POTENTIAL TO GROW TO £231,900 PA
Property comprises 20 apartments within a modern, purpose built block (19 no. 2 bed apartments, 1 no. 1 bed apartment) with on site parking for 8 vehicles.
Built in 2021 the property is arranged on ground and 3 upper floors with a roof terrace, served by a lift.
All apartments are separately metered for gas heating and electricity.
We understand the property is fully let and will produce a gross annual income of £216,060 pa. to Year End November 2025.
PRICE
Offers invited in excess of £2,750,000. A purchase at this level would represent a Gross Initial Yield of 7.38% and a Gross Reversionary Yield of 7.92%, after purchasers acquisition costs of 6.03%.
Domestic rates payable (non-recoverable) for the current year are approximately £13,500.
LOCATION
Situated to the east of Belfast city centre in an area which is mixed use in character with a doctors surgery, retail units, owner occupied residential, 'buy to let´ residential and social housing stock all represented nearby.
REVERSIONARY FULLY LET RESIDENTIAL BLOCK COMPRISING 20 APARTMENTS PRODUCING A GROSS RENTAL INCOME OF £216,060 PA WITH POTENTIAL TO GROW TO £231,900 PA
Property comprises 20 apartments within a modern, purpose built block (19 no. 2 bed apartments, 1 no. 1 bed apartment) with on site parking for 8 vehicles.
Built in 2021 the property is arranged on ground and 3 upper floors with a roof terrace, served by a lift.
All apartments are separately metered for gas heating and electricity.
We understand the property is fully let and will produce a gross annual income of £216,060 pa. to Year End November 2025.
PRICE
Offers invited in excess of £2,750,000. A purchase at this level would represent a Gross Initial Yield of 7.38% and a Gross Reversionary Yield of 7.92%, after purchasers acquisition costs of 6.03%.
Domestic rates payable (non-recoverable) for the current year are approximately £13,500.
LOCATION
Situated to the east of Belfast city centre in an area which is mixed use in character with a doctors surgery, retail units, owner occupied residential, 'buy to let´ residential and social housing stock all represented nearby.
Broadband Speed Availability
Potential Speeds for 2-6 Castlereagh Place
Max Download
1800
Mbps
Max Upload
220
MbpsThe speeds indicated represent the maximum estimated fixed-line speeds as predicted by Ofcom. Please note that these are estimates, and actual service availability and speeds may differ.
Property Location
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Contact Agent
Contact Simon Brien (South Belfast)
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2-6 Castlereagh Place, Belfast, BT5 5GT
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